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Suppose Bitcoin ends up worth a dollar. Since there will be 22 million BTC, it seems true to say that it added at least as much wealth to the world as a failed
by sillysaurus3 9y ago
Suppose Bitcoin ends up worth a dollar. Since there will be 22 million BTC, it seems true to say that it added at least as much wealth to the world as a failed (acqui-hired) startup. Therefore it wasn't zero sum, correct?
It's not like we're doing anything else with our time, so we may as well have a thought experiment.
- wolco 9y agothe fiat currency required to fullfill the 22 million coins being cashed out would be removed from other areas of society
- sillysaurus3 9y agoWhy is that different from a startup being acquired for $22M? In both cases, people now have $22M to spend that they otherwise wouldn't have had.
- rspeer 9y agoStartups are bought because the buying company plans to use them in a profitable enterprise. What would you do with post-crash Bitcoins that you paid a dollar for?